DAY TRADE - EXPIRES AT 9PM
We were looking for a dip to buy today but the market appears to have stalled in front of our entry level. Is this good enough reason to get long?
Overall we remain bullish.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
Bespoke support is located at...
Hello my dear readers, here we would like to take a look at two different scenarios FTSE 100 Index Chart (UKX).
Let's start with the bearish scenario because this is the one that is in play right now... Feel free to hit like to show your support.
Looking at the chart above, we can notice a huge descending channel (bold brown dashed line) and we have two rising...
You can see from our support line ( green line ) that this is a VERY strong level that price has bounced of many times, Price has also bounced off this level this week and we can see a run up to our resistance zone ( green box )
Of course surrounding Brexit and businesses not knowing how the deal or no deal will affect them and trading then you have to be...
FTSE lacking momentum one way or another
Technically we can see that the FTSE 100 remains negatively biased. The (orange) Chikou Span is well below the price line and has yet to define any significant support or resistance levels, which may not help if any further negative Brexit or other political concerns rear their ugly heads. That said a flattening Kijun Sen...
Last post: May 17th. See chart.
Review: Price was trying to make new all-time highs.
Update: The market has reversed since then and has now broken below a major support area.
Conclusion: We need to see if price will remain below the support area then we can look for shorting opportunities.
Any comments or questions, do not hesitate to leave them below....
Some very quick analysis of the FTSE100 - Could we see a double top form at this level? If it does remain bullish we would need to see a retracement soon so this may be a great opportunity for a short term sell on this asset!
Burford Capital is still advancing since bouncing off the support level.
Price may not move fast in a direction but as long as it is consistent then we just need to follow our plan.
The plan in this case is to be patient and still wait for a break of the resistance level before entering a long trade.
As you can see, the all-time high is not too far away so we may...
Whilst its still volatile, the bulls have managed to break above the 7215 resistance level overnight on the TVC:UKX. That should in theory now become support and as long as the bulls can defend this level then a rise towards the next key resistance area at 7325 is possible. The S&P 1.10% has defined the drop to 2610 yesterday and testing 2650 again. Ball is firmly...
Whilst its still volatile, the bulls have managed to break above the 7215 resistance level overnight on the FTSE 100. That should in theory now become support and as long as the bulls can defend this level then a rise towards the next key resistance area at 7325 is possible. The S&P has defined the drop to 2610 yesterday and testing 2650 again. Ball is firmly in...
Burford Capital is showing signs of potentially breaking out after bouncing off the support level
which I mentioned in this post.
This is what we want to see after price breaks out of consolidation, a retest of the consolidation zone then a bounce off that zone,
then a move in the direction of the main trend.
We now just need to confirm a bullish trend may unfold...
Burford Capital is still hovering around the support level which I mentioned in this previous post.
It is normal for price to retest the consolidation zone but it is unclear for now whether price will return back to consolidation
or bounce off that zone before moving higher.
The time in which this may happen is not certain right now but what is certain is that we...
The UK FTSE 100 appears to be bearish but on closer inspection of the weekly chart, it shows us that
the bigger trend is still bullish.
Price is at a strong support area which could hold strong and send price back on its way up.
We can not predict the next move but we can be ready for the possible outcomes and take advantage of it.
If price starts to head back up...
Burford Capital LSE:BUR breaks out again.
After the breakout of consolidation I mentioned in my previous post that I will wait for the next breakout before entering.
The reason for this was to make sure the breakout was not a fake breakout.
We now have another breakout but the...
Asos LSE:ASC breaks through previous high after bouncing off the 50 simple moving average.
See previous analysis
This breakout helps us to confirm the buyers are in control for now but will things stay that way.
Underneath price we have the 50 moving average which has proven time...
My short-term bias is still bearish. I feel price will fall to at the least close the gap. I'm not confident this is a solid break of this short-term resistance as price has failed to take this level with any real conviction. Price is currently stalling at the 61.8 fib which I mapped out on the 1hr chart for this current retracement.
Am watching the 7450 level for support today. Is this just a pullback in the overall bullish trend or are the bears finally waking up? If 7450 breaks then it may well get a lot more bearish. Consumer spending slowing down, companies making redundancies. Some big companies struggling or going into administration in the UK. US stock markets certainly got ahead of...